AmeriCredit to sell $500M in common stock

MichaelBaron

AmeriCredit
acf
should be an active stock Tuesday after the company announced plans for a public offering of $500 million worth of its common stock. The Fort Worth, Texas-based firm plans to use proceeds from the deal, which includes an over-allotment option for the sale of an additional $75 million in stock, for general corporate purposes. In addition, in a press release after Monday's closing bell, the company said that it has reached an agreement with Financial Security Assurance, its bond insurance guarantor, to raise the delinquency trigger levels in its securitizations, and that it will structure future securitization transactions as secured financings. The stock closed Monday at $13.62, up 0.8 percent.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.